Concord Twp, Somerset County, Maine Property Taxes
Median CONCORD TWP, ME effective property tax rate: 0.76%, significantly lower than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median CONCORD TWP, ME home value: $121,615
Median annual CONCORD TWP, ME tax bill: $928, $1,472 lower than the national median property tax bill of $2,400.
How are property taxes in Somerset calculated?
Property taxes in CONCORD TWP, ME are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding CONCORD TWP’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in CONCORD TWP, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Concord Twp, Somerset County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.76%
Estimate Property Tax Bill
$924
$858
Property Tax Rates Across Concord Twp, Somerset County, Maine
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Concord Twp Tax Rate
0.76%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Somerset County Tax Rate
1.77%
Median Effective Maine Tax Rate
1.57%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Concord Twp, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04920 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Concord Twp, Somerset County, Maine
When examining property taxes in Concord TWP, ME, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Somerset County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Somerset County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Concord TWP. For example, the median home price in Concord TWP is $121,615, with tax bills ranging significantly across the county. Zip code 04920 has the highest median home price at $121,615.
Property Tax Assessment Values Across Concord Twp, Somerset County, Maine
Source: Ownwell
$74,500
$182,040
$289,580
Median Concord Twp Market Value
$121,615
Median Somerset County Market Value
$105,900
Median Maine Market Value
$204,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Concord Twp, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04920 | $61,914 | $88,582 | $121,615 | $165,012 | $196,714 |
Source: Ownwell
Property Tax Bills Across Concord Twp, Somerset County, Maine
In Concord TWP, Somerset County, ME, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. With a median home price of $121,615, homeowners in this area face a tax bill that can range significantly. For instance, the tax bill at the 25th percentile is $676, while at the 75th percentile, it is $1,260, and at the 90th percentile, it reaches $1,609. Compared to the national median property tax bill of $2,400, residents here generally experience lower tax obligations. However, these bills can still impact homeowners' finances, especially when they fall on the higher end of the spectrum.
Ownwell offers valuable assistance by providing property tax appeal and exemption services, helping homeowners potentially reduce their tax burdens. By analyzing property assessments and market conditions, Ownwell identifies opportunities for tax savings. This service can be particularly beneficial for those facing higher tax bills, ensuring that homeowners only pay their fair share and can allocate their resources more effectively.
Median Concord Twp Tax Bill
$928
Median Somerset County Tax Bill
$1,837
Median Maine Tax Bill
$3,200
Median United States Tax Bill
$2,400
Property Tax Bills Across Concord Twp, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04920 | $472 | $676 | $928 | $1,260 | $1,609 |
Source: Ownwell
